That said, the trade worked out perfectly in terms of strategy - my intent was buying in S&P 1133-1134 area and looking for 10 to 15 points. Just over an hour later my trade is "done". Please note I don't care about time frames - to outsiders this is a "daytrade". Not to me; it was a price target... if it took 4 days, 4 hours or 4 minutes my goal was those 10 to 15 points. (if I was talking a stock I'd say if it took 4 months, 4 weeks, 4 days or 4 hours but since its an option, due to volatility risk, I usually hold them for hours or at most days)
I'll be taking off my trade in the next few minutes with a nice gain of about 33 cents per option contract (roughly $1.89 to $2.22) That is 17% for maybe 75 minutes of work. It should have been closer to 30% if my entry point was anywhere near what it should have been. Can't do much about it.
p.s. today was a POMO day - I am sure it was just happenstance we shook off a horrid consumer confidence number and rallied just as the Fed was infusing the primary dealers with hundreds of millions. (indeed today was a small POMO day, usually they send in $3-$5B, today was less than a billion)
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